South Devon Railway Act 1844

Cited as:1844 c. lxviii
Jurisdiction:UK Non-devolved
South Devon Railway Act 1844

(7 & 8 Vict.) c. lxviii

An Act for making a Railway from Exeter to Plymouth, to be called the South Devon Railway.

[4th July 1844]

ANNO SEPTIMO & OCTAVO VICTORLE REGINA. ^|H|Ht********************************************** Cap. lxviii. An Act for raaking a Railway from Exeter to Plymouth, to be called the Smith Devon Railway. [4th July 1844.] W HEREAS the making of a Railway in extension of the Bristol and Exeter Railway from Exeter to Plymouth in the County of Devon would be of great public Advantage: And whereas the Persons herein-after named, with others, are willing, at their own Expence, to carry such Undertaking into execution; but the same cannot be effected without the Authority of Parliament: May it therefore please Your Majesty that it may be enacted; and be it enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That Thomas Gill, David Derry, Ralph Cole, William incorpora- Fox, Thomas Woollcombe, William Henry Hawker, Harry Bulteel tionofCom- Harris, Edward St. Aubyn, William Acland, John Allen, Jonathan Pan '- Cundy Pope, Peter Kitt, John Burneil, Eldred Roberts Browne, William Burneil, George Brent, Robert Kingwill, William Conway, John Plumsaul, Thomas Plumsaul, Andrew Boolds, George William Corrie, William Pridham, William Shepheard, and all other Persons and Corporations who have already subscribed or shall hereafter subscribe to the said Undertaking, and their Executors, Administra tors, Successors, and Assigns respectively, shall be united into a [LocaL] 36 A Company 3222 7 & 8 VICTORIA, CapAxvm. Company for the Purpose of making the said Railway, with proper Approaches and other Works and Conveniences connected therewith, according to the Provisions of this Act, and for the Purpose aforesaid shall be incorporated by the Name of " The South Devon Railway Company," and by that Name shall be a Body Corporate, with perpe-tual Succession, and shall have Power to purchase and hold Lands, within the Restrictions herein-after contained, for the Purposes of the said Undertaking. Capital. II. And whereas the estimated Expence of making the said Rail- way and Works is Eleven hundred thousand Pounds; be it enacted, That Eleven hundred thousand Pounds shall be the Capital of the said Company. Shares. III. And be it enacted, That the said Capital shall be dividedinto Twenty-two thousand Shares, each of the Amount of Fifty Pounds; and such Shares shall be numbered in arithmetical Progression, beginning with Number One; and every such Share shall be distinguished by its appropriate Number. Shares to be IV. And be it enacted, That all Shares in the Undertaking shall be Personal Personal Estate, and transmissible as such, and shall not be of the Nature of Real Estate. Share-holders. Power for the Great Western, Bristol and Exeter, and Bristol and Gloucester Railway Companies to subscribe. V. And be it enacted, That every Person or Corporation who shall have subscribed or shall subscribe the Sum of Fifty Pounds or upwards to the Capital of the Company shall be deemed a Share- holder of the Company, and shall be entitled to have One Share therein allotted to him in respect of every Sum of Fifty Pounds so subscribed by him. VI. And whereas the Formation of the said Railway hereby autho- rized would be beneficial to the Interests of the Great Western Railway Company, of the Bristol and Exeter Railway Company, and of the Bristol and Gloucester Railway Company respectively; and the said Companies have therefore agreed, by and with the Au^hority of General Meetings of the Proprietors in the said Companies respec- tively, to subscribe towards the Formation of the said Railway, if authorized by Parliament so to do, in the Proportions fbllowing; that is to say, the said Great Western Railway Company have agreed to subscribe the Sum of One hundred and fifty thousand Pounds, the said Bristol and Exeter Railway Company have agreed to subscribe the Sum of Two hundred thousand Pounds, and the said Bristol and Ghucester Railway Company have agreed to subscribe the Sum of Fifty thousand Pounds, towards the said Undertaking; be it therefore enacted, That the said Companies respectively may and they are hereby respectively empowered to subscribe towards and become Shareholders in the Undertaking hereby authorized, to the Extent agreed or resolved to be subscribed by them respectively as aforesaid. VII. And be it enacted, That for such Purpose it shall be lwful for the said last-mentioned Companies respectively to raise the Sums Power for the said to'rafse'c^- so agreea or resolved to be advanced by them respectively as afore- said, 7 & 8 VICTORIA, CapAxvl 3223 said, or any Part thereof, by the Creation of new Shares in their P'tal for the respective Undertakings, of such Amount and upon such Terms and PurPose-Conditions as may be agreed on and determined by a Majority of the Shareholders present at any General Meeting of the said Com-panies respectively specially convened for the Purpose ; or it shall be lawful for the said Companies respectively, if they so think fit, to guarantee Interest out of their respective corporate Funds or respective annual Revenues, after a Rate not exceeding Five Pounds per Centum per Annum, on the Shares for which they are hereby respectively empowered to subscribe as aforesaid, for such Periods, and upon such Conditions as to the Redemption of such Shares by the Company or Companies guaranteeing such Interest, or otherwise, as the respective Holders for the Tirne being of such Shares, or Parties in whose Hands the same may be placed as Security, and the said last-mentioned Companies respectively may mutually agree on. VIII. And be it enacted, That the Company hereby incorporated Registry of shall keep a Book, to be called the " Register Book of Shareholders," j ha[e' and in such Book shall be fairly and distinctly entered from Time to ers' Time the Names of the several Corporations, and the Names and Additions of the several Persons, being Shareholders of the Company, the Number of Shares to which such Shareholders shall be respectively entitled, distinguishing each Share by its Number, and the Amount of the Subscriptions paid on such Shares; and such Book shall be authenticated by the Common Seal of the Company being affixed thereto; and such Authentication shall take place at the first Ordinary Meeting or at some subsequent Meeting of the Company. IX. And be it enacted, That in addition to the said Register of Addresse* Shareholders the Company shall provide a proper Book, to be called of ^hare- the " Shareholders Address Book," in which the Secretary shall from llolders- Time to Time enter the Places of Abode of the several Shareholders of the Company; and every Shareholder, or if such Shareholder be a Corporation the Clerk or Agent of such Corporation, may at all convenient Times peruse such Book gratis, and may require a Copy thereof or of any Part thereof; and for every Hundred Words so required to be copied the Company may demand a Sum not exceeding Sixpence. X. And be it enacted, That on Demand of tbe Holder of any Certificate* Share the Company shall cause a Certificate of the Proprietorship of of Share- such Share to be delivered to such Shareholder, and such Certificate shall have the Common Seal of the Company affixed thereto, and such Certificate shall specify the Share in the Undertaking to which such Shareholder is entitled, and the same ma}- be according to the Form in the Schedule (A.) to this Act annexed, or to the like Effect; and for such Certificate the Company may demand any Sum not exceeding Two Shillings and Sixpence. XL And be it enacted, That such Certificate shall be admitted in Certificate to all Courts as prima facie Evidence of the Title of such Shareholder, be Evidence. his Executors, Administrators, Successors, or Assigns, to the Share - therein 3224 7 & 5 VICTORLE, Cap.hvm. therein specified; nevertheless the Want of such Certificate shall not prevent the Holder of any Share from disposing thereof. Certicateto XII. And be it enacted, That if any such Certificate be worn out be renewed or damaged, then, upon the same being produced at some Meeting of stroved*' tne Directors, such irectors may order the same to be caneelled, and thereupon another similar Certificate shall be given to the Party in whom the Property of such Certificate, and of the Share therein mentioned, shall be at the Time vested, or if such Certificate be lost or destroyed, then, upon Proof thereof, a similar Certificate shall be given to the Party entitled to the Certificate so lost or destroyed, and in either Case a due Entry of the substituted Certificate shall be made by the Secretary in the Register of Shareholders; andfbr every such Certificate so given or exchanged the Company may deniand any Sum not exceeding Two Shillings and Sixpence. Transfers of XIII. And be it enacted, That, subject to the Regulations herein Shares to be contained, every Shareholder may seil and transfer his Shares in the regis er , j^ail^way by Deed duly stamped, in" which the Consideration shall be truly stated, and such Deed shall be according to the Form in the Schedule (B.) to this Act annexed, or to the like Effect; and the same (when duly executed) shall be delivered to the Secretary, and be kept by him, and the Secretary shall enter a Memorial thereof in a Book to be called the " Register of Transfers," and shall, if required, endorse such Entry on the Deed of Transfer, and for every such Entry and Endorsement the Company may demand any Sum not exceeding Two Shillings and Sixpence; and on the Request of the Purchaser of any Share an Endorsement of such Transfer shall be made on the Certificate of such Share, instead of a new Certificate being granted, and for such Endorsement the Company may demand any Sum not exceeding Two...

To continue reading

Request your trial